Member Article

Revenues have more than doubled at mattress innovator eve Sleep

London-based mattress brand eve Sleep has saw its revenues double in the last six months as the market for cannily marketed mattresses continues to hot up.

The company, which is currently vying with the likes of Simba and Casper for market share, has grown its revenues by 126% year-on-year with a strong performance across its European territories driving an increase to £11.5m from £5.1m last year.

In the first set of financials released by eve since its IPO in May, the figures show that revenues have grown by 107% in the UK alone, rising to £6.3m from £3m, while revenues in its other territories, including Ireland and continental Europe, jumped by 153% to £5.2m.

Jas Bagniewski, Chief Executive Officer, was confident about the firm’s future and commented: “Our successful IPO in May tops off what has been an outstanding first half for eve, with sales more than doubling in the UK and overseas. The monies raised will be used to support our rapid growth in the £26bn European sleep market.

“As the market continues its transition online, eve aims to fully capitalise with its simple and compelling customer proposition, which combined with a step up in marketing, is expected to drive increased brand awareness and market share gains from the traditional operators.”

The digitally focused brand said that the vast bulk of its sales had been through its own ecommerce website, with eve hopeful that a planned ‘step-up’ in its marketing activities will help it to grab an even bigger market share in the coming months.

Arrangements with high street retailers are also set to be expected as its initial three store deal with Next Home is expanded to 55 stores UK-wide which, combined with its current deals with Debenhams, Fenwicks and Bentalls, brings its total offline presence to 63 UK retailers.

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